Gilead Shares Soar and 3 Movers Demand Attention

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Titanium Metals Corp. (NYSE:TIE) is being acquired by Precision Castparts for a price of $2.9 billion. This move better positions Precision with its supply chain and improves the management of its input costs as well.

Sirius XM Radio (NASDAQ:SIRI) could see its search for a new chief executive to take the place of Mel Karmazin continue into 2013, according to Liberty Media Chief Executive Greg Maffei. On the conference call after the latter’s third quarter report, Maffei commented that, “We are both looking at internal and external candidates. It’s unlikely to be a one-month process. I would hope it would be six months or less.” Liberty holds a bit less than 50 percent of Sirius shares and Maffei is a director at Sirius and is leading the search committee.

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Chimera Investment Corp. (NYSE:CIM) is a specialty real estate investment trust which is managed by Fixed Income Discount Advisory Company (FIDAC), which in turn is a wholly owned subsidiary of Annaly Capital Management. The firm is an investor in residential mortgage-backed securities Rambus (NASDAQ:RMBS), commercial mortgage loans, residential mortgage loans, real estate-related securities, and currently pays an annual dividend of 36 cents on a yield of approximately 14.1 percent.

Gilead Sciences (NASDAQ:GILD) shares pop on Monday, subsequent to the firm’s positive results from a mid-stage hepatitis C study. Gilead announced its interim data over the weekend from the ongoing Phase 2 ELECTRON evaluation that analyzed a 12-week course of therapy with the investigational nucleotide sofosbuvir, the NS5A inhibitor GS-5885 and ribavirin in patients with genotype 1 chronic hepatitis C virus (HCV) infection. These results will be presented on November 13 during the 63rd annual meeting of the American Association for the Study of Liver Diseases — The Liver Meeting 2012 — in Boston.

Don’t Miss: Clovis Oncology: This Treatment is Out of Reach.

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